HCMC – Coca-Cola Vietnam has expressed its commitment to sustainable development of Vietnam within the framework of the ongoing 2017 APEC Economic Leaders’ Week in Danang City. As a multinational corporation, Coca-Cola aims to provide a unifying of business goals and benefits to the communities where they operate, and to differentiate through innovation in all activities. Coca-Cola has built its credibility and trust by continuously improving its products and efforts. The implementation of global initiatives contributes to the development of sustainable social development.
Sanket Ray, CEO of Coca-Cola Vietnam presented at the "SMEs, Start-ups & Innovation" session at the Vietnam Business Summit 2017.
Talking to the media about the motive for supporting local small- and medium-sized enterprises (SMEs), CEO of Coca-Cola Vietnam, Sanket Ray said that the success of one particular company is reflected in the prosperity of its surrounding communities.
“Coca-Cola is focused on developing sustainable business not just profit but also expanding profitability for all our partners and suppliers in our global business ecosystem, speeding up the innovation process to ensure sustainable development.", according to Ray.
To make his point clearer, Ray said Coca-Cola Vietnam this year has launched a project called “Supporting SMEs in Vietnam for Sustainable Development 2017” to provide training for SMEs, focusing on innovation, supply chain management and corporate social responsibility.
The project was implemented jointly with the VCCI’s Vietnam Business Council for Sustainable Development (VBCSD) and the US-ASEAN Business Council (USABC). Via such a project, Coca-Cola has shared its experience and knowledge and offered specialist training by leading experts to SMEs, helping them understand the operational process of Coca-Cola as a multinational company, its requirements for suppliers.
“What impresses us is that eight out of 12 SMEs participating in our project have then joined our supply chain. Such a result has made us hold on to the rightness and practicality of the project,” Ray shared.
This project is not the first of Coca-Cola since the company has spent more than US$7 million on social activities since 2010. Coca-Cola has also coordinated with many localities and non-governmental organizations to carry out practical project to help locals such as clean water provision at EKOCENTER, and the 5by20 project to promote empowerment for five million women towards 2020. In addition, it has worked on climate change projects, notably Monkey Cheeks, a project that uses the metaphorical sense of monkey cheeks in Thailand to refer to water management. This model has relied on flood to store water for the Mekong Delta region.
According to Ray, the success of global initiatives of Coca-Cola has resulted from its understanding of local communities. The three main focuses of the company’s sustainability strategy are water, women and improving quality of life for communities. Coca-Cola is committed to making positive changes, creating jobs, forming effective value chains and pursuing sustainable development in countries that Coca-Cola has been operational in. Coca-Cola has a long history of 131 years, and the two main factors in its success are continuous innovation culture and growth mindset. Its factories in HCMC, Danang and Hanoi have more than 2,500 employees, over 99% of whom are Vietnamese.
Its product portfolio in Vietnam is diverse such as Coca-Cola, Coca-Cola Light, Coke Zero, Sprite, Fanta, Minute Maid Nutriboost, Minute Maid Teppy, Schweppes, Dasani and Aquarius, and recently was the latest launch of Fuzetea+, meeting the diverse demands of consumers. Therefore, this can be what local SMEs can learn from to grow amid the increasing globalization trend, especially when the world is entering the 4.0 industrial revolution era.